\nXL Fleet Corp. (NYSE: XL) (\u201cXL Fleet\u201d or the \u201cCompany\u201d), a leader in fleet electrification solutions, and Apex Clean Energy (\u201cApex\u201d), a leading clean energy company that develops, constructs, and operates utility-scale wind and solar power facilities throughout North America, today announced that XL Fleet is electrifying Apex\u2019s vehicle fleet as part of a comprehensive effort to reduce its carbon emissions.\n<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210407005381\/en\/<\/a><\/p>\n (Photo: Business Wire)<\/p>\n<\/div>\n \nApex\u2019s first investment in vehicle electrification, the order will provide 19 electrified Ford F-series pickup trucks, including ten plug-in hybrid electric and nine hybrid electric systems for pickups in its service fleet, for delivery in the second quarter of 2021. The strategic mix of hybrid and plug-in hybrid electric vehicles being deployed aligns with Apex\u2019s current sustainability goals and operational requirements, while allowing it to consider expanding its electrification investments as it replaces more vehicles in the future.\n<\/p>\n \nXL Fleet\u2019s electrification systems will enable Apex to equip its project teams with a diverse array of cleaner, more fuel-efficient vehicles as Apex installs renewable power generation equipment and facilities throughout North America. Apex is planning to deploy the plug-in hybrid vehicles to its operations employees, who will have access to charging infrastructure being installed at operational wind and solar facilities. The hybrid vehicles are expected to be used by Apex\u2019s on-site construction team, who currently do not have regular access to charging infrastructure and will benefit from the regenerative braking provided by the XL Fleet hybrid system. In the past decade, Apex has commercialized $9 billion worth of wind and solar projects representing nearly 7 GW of clean energy opportunity.\n<\/p>\n \n\u201cXL Fleet and Apex Clean Energy share a common goal of delivering sustainable products and services designed to protect our environment, and we are proud to become Apex\u2019s electrified vehicle partner as they look to take immediate and significant steps toward reducing their carbon footprint,\u201d said Brian Piern, VP of Sales and Marketing at XL Fleet.\n<\/p>\n \n\u201cAs a mission-driven company with sustainability at the heart of our work, Apex is driving the transition to a clean energy economy, and XL Fleet is an ideal partner to help us extend this core value to our transportation choices,\u201d said Mark Goodwin, president and CEO of Apex Clean Energy. \u201cXL Fleet gives us the ability to begin working toward our carbon reduction goals immediately by electrifying our vehicle fleet with proven solutions that make strong financial sense.\u201d\n<\/p>\n \nThis deployment of electrified pickups reflects XL Fleet\u2019s broad lineup of plug-in hybrid and hybrid solutions for some of the fleet industry\u2019s most popular light and medium duty work trucks, which also includes the Company\u2019s newest plug-in and hybrid offerings for Chevrolet Silverado and GMC Sierra HD models.\n<\/p>\n \nThe Ford F-series pickups being electrified for Apex were acquired by XL Fleet\u2019s Fleet Management Company (FMC) partner Enterprise Fleet Management as part of this transaction. Enterprise is a leading full-service provider of fleet management capabilities, including vehicle acquisition, financing, maintenance and more. Enterprise takes a sustainable approach to its business practices and actively helps fleet customers manage their carbon footprint.\n<\/p>\n About XL Fleet Corp.<\/b><\/p>\n \nXL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 150 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet\u2019s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet\u2019s plug-in hybrid electric drive system was named one of TIME magazine’s best inventions of 2019. For additional information, please visit www.xlfleet.com<\/a>.\n<\/p>\n About Apex Clean Energy<\/b><\/p>\n \nApex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across North America. Our mission-driven team of more than 250 renewable energy experts uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world\u2019s most innovative and forward-thinking customers. For more information on how Apex is leading the transition to a clean energy future, visit apexcleanenergy.com<\/a> or follow us on Facebook<\/a>, Twitter<\/a>, and LinkedIn<\/a>.\n<\/p>\n Forward Looking Statements<\/b><\/p>\n \nCertain statements in this press release may constitute \u201cforward-looking statements\u201d within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as \u201cbelieve,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201cseem,\u201d \u201cseek,\u201d \u201cfuture,\u201d \u201coutlook,\u201d and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company\u2019s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and\/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company\u2019s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company\u2019s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company\u2019s business and the timing of expected business milestones; the effects of competition on the Company\u2019s future business; the availability of capital; and the other risks discussed under the heading \u201cRisk Factors\u201d in our Annual Report on Form 10-K filed on March 31, 2021 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210407005381\/en\/<\/a><\/span><\/p>\n Media:![\"(Photo:](\"https:\/\/mms.businesswire.com\/media\/20210407005381\/en\/869891\/4\/XL_Fleet_Apex_Clean_Energy_PHEV_Photo.jpg\")
<\/p>\n<\/p>\n
\n
<\/b>PR@xlfleet.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20210407005381\/en\/869890\/3\/XLFleet_Logo_150dpi_Transparency.jpg\"){kind=logo}
<\/td>\n<\/tr>\n![\"Photo\"](\"https:\/\/mms.businesswire.com\/media\/20210407005381\/en\/869891\/3\/XL_Fleet_Apex_Clean_Energy_PHEV_Photo.jpg\")
<\/td>\n<\/tr>\n